Sunday, August 5, 2012

Branding and focussed marketing: Two vital ingredients of success in real-estate sale

What makes some projects fail while some others are successful? Is it only the cheap prices of the properties which is the main reason for the success of the projects? Do all economically priced properties sell well and all pricier ones are difficult to sell? As in other business, the success or failure of a particular project depends on how the marketing of the project has been done and to what extent a strong brand presence has been used to drive the sales of the projects. It is a general belief that expensive apartments of the nature of Diplomatic Greens by Puri builders are difficult to sell but much depends on how the values and main features of the property have been conveyed to the target customers. It shall always be remembered that effective marketing for a good product works wonders.

Identify Right Target Market and Map Property Features with It

While planning for the expensive apartments, it is vital to determine the main market of customers to which it shall cater. What segment of population would buy these flats? What kinds of features are desired by that segment? Since they would be paying far higher prices, what all values of property would be incorporated that makes these truly unique. So, complete profiling of the target customers as well as the key features of the property shall be done and these need to match exactly so as to make their sale quite easy.

Develop The Unique Selling Propositions (USPs) including Brands

For a niche segment which likes to live luxuriously, builders do need to provide these ingredients of luxury which will set them apart from the others. This could be the property design by top foreign designers and architects or the size of the flat or any other feature which could be the USPs. Care shall be taken to incorporate those USPs which are significant and unique from the others. Even the names such as Diplomatic Greens or attractive logos help in communicating these USPs.

Communication of USPs

Once the key differentiating points of the property are delineated, these need to be communicated to the right audience through the right channels and media of communication. The choice of media and method of communication is important since it develops the brand image and plays an important role in reaching the right target market.

So, while there is no denying the fact that the less costly properties have better chances of selling since these fit the budget of masses, it is wrong to assume that the luxury apartments which come with pricier tags such as Diplomatic Greens Gurgaon are difficult to sell. Much depends on how the USPs have been developed in the property and its location and how effectively have these been communicated to the right target market. It the marketing and branding exercise along with the carefully incorporated product differentiation which helps sell even the priciest of properties.

kamal bhatt is a writer who frequently writes about neharpar faridabad property like Diplomatic greens, Diplomatic greens gurgaon & Diplomatic greens by puri .

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